XHB-Homebuilders: Weakness At Key Levels, Waiting For Shorts
Traders
Clear weakness is seen here
-Lower low to an important resistance level, (Sideways as well as straight resistance levels, creating an action level)
-Sideways and straight resistance are having an impact on the stocks price.
-We are at 61.8 retrace of the corrective leg impulse, looking very nice for some downside
-Converging major MA's - Converging moving averages could create a death cross, (Already seen intermediate MA crossings occurs)
-Hidden bearish divergence on Stochastic.
Best of luck
Tom
Clear weakness is seen here
-Lower low to an important resistance level, (Sideways as well as straight resistance levels, creating an action level)
-Sideways and straight resistance are having an impact on the stocks price.
-We are at 61.8 retrace of the corrective leg impulse, looking very nice for some downside
-Converging major MA's - Converging moving averages could create a death cross, (Already seen intermediate MA crossings occurs)
-Hidden bearish divergence on Stochastic.
Best of luck
Tom